On June 25, 2020, federal banking and securities regulators issued new regulations that will ease burdens on banks that involve themselves with certain types of investment funds. By creating new exclusions from the definition...more
7/2/2020
/ Banks ,
Community Reinvestment Act ,
Debt Instruments ,
Final Rules ,
Internal Revenue Code (IRC) ,
Investment Advisers Act of 1940 ,
New Regulations ,
Qualified Opportunity Funds ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Volcker Rule
In a vote along party lines, the House of Representatives passed the Financial CHOICE Act of 2017, which would eliminate or scale back many of the provisions found in the Dodd-Frank Wall Street Reform and Consumer Protection...more
What kind of impact have the Truth in Lending Act/Real Estate Settlement Procedures Act Integrated Disclosure (TRID) requirements had on banks? According to a new study conducted by the American Bankers Association (ABA), the...more
Why it matters -
Federal regulators said they don’t expect perfection from banks trying to comply with the new mortgage disclosure requirements but will not turn a blind eye with regard to enforcement. In letters to...more
10/20/2015
/ Consumer Financial Protection Bureau (CFPB) ,
Disclosure Requirements ,
Dodd-Frank ,
Enforcement Actions ,
Fannie Mae ,
FDIC ,
Final Rules ,
Freddie Mac ,
Good Faith ,
GSE ,
Mortgage Brokers ,
Mortgage Lenders ,
Mortgage Servicers ,
Mortgages ,
OCC ,
Policies and Procedures ,
TILA-RESPA Integrated Disclosure Rule (TRID) ,
Training
Why it matters -
An “administrative error” on the part of the Consumer Financial Protection Bureau (CFPB) may have been the best news lenders received in a long time. On August 1, the new TRID (TILA-RESPA Integrated...more
Why it matters -
Seeking to reassure smaller financial institutions struggling to cope with regulatory changes in the mortgage industry, the Consumer Financial Protection Bureau (CFPB) proposed changes intended to...more
The Consumer Financial Protection Bureau’s (CFPB) recent proposal to exercise its authority under the Dodd-Frank Act to supervise large nonbank automobile lenders may have finance companies working to enforce...more
The Federal Reserve Board (FRB) has begun a process that will lead to the imposition of new capital requirements on some large insurance companies. Pursuant to Section 171 of the Dodd-Frank Act, the FRB gained authority to...more
In the last week of August, the SEC issued in final form the new and wholly revised Regulation AB, which relates to the issuance of asset-backed securities. ...more
In a new interpretation with implications for banks, the Internal Revenue Service (IRS) announced its intent to change course and limit rollovers from an Individual Retirement Account (IRA) to one rollover per year per...more
Light ’em Up: FinCEN’s Cautionary Guidance About Banks Working With Marijuana Companies -
The Financial Crimes Enforcement Network’s new guidance on how to work with marijuana-related businesses is unlikely to make it...more
Bit by Bit(coin), Virtual Currency Inches Toward Regulation -
Has the time come to regulate virtual currency? At a recent hearing held by the New York Department of Financial Services, the answer appeared to be “yes.”...more
Community Banks and the Volcker Rule: What’s Next? -
For now, banks that have investments in CDO securities that are issued by funds that are invested in trust preferred securities (TruPS CDOs) have dodged a bullet. On...more
1/17/2014
/ Arbitration ,
Banking Sector ,
Collateralized Loan Obligations ,
Community Banks ,
Consumer Financial Protection Bureau (CFPB) ,
Covered Entities ,
Department of Justice (DOJ) ,
Dodd-Frank ,
Fair Lending ,
FFIEC ,
Financial Institutions ,
Mandatory Arbitration Clauses ,
Social Media ,
Trust Preferred Securities ,
Volcker Rule
As widely anticipated in the press, federal regulators have issued final rules implementing Section 619 of the Dodd-Frank Act, commonly called the Volcker Rule. This is the portion of the Dodd-Frank Act that limits...more